Power Systems Research (PSR) is an international research company based in St. Paul, Minnesota, USA. It operates a second North America office in Detroit, Mich., and has offices in five other countries. PSR analysts have been collecting and analyzing global engine and powertrain data and information since 1976, and we use this data to develop targeted forecasts by industry segment and region.
Our team of experienced analysts works with OEMs, engine and component manufacturers, dealers, fleet managers and industry experts to compile detailed and focused data that has become an industry standard. It’s the leading source of global information on engines and power equipment powered by IC and alternate sources. Whether you need detailed global data, forecasts or customized local market studies, we can provide you with Data, Forecasting and Solutions. Let’s start today.
Study shows PHEVs exceed government estimates. There have been several studies that suggest that hybrid electric vehicles (also called PHEVs) are simply not the great environment saver that the marketing people are suggesting. A new study by the Fraunhofer Institute shows that on average, PHEVs use more than three times as much fuel as government estimates suggest.
The study is highly credible as it was based around on-board fuel consumption monitoring data from a massive 981,035 vehicles across Europe.
A gap of over 300% is severe and makes it hard for the EU to regulate something when the estimated numbers are so wildly different from reality. The EU is aware of this problem, and is taking some measures to fix it
Recently in Australia, Protrans Solutions conducted a successful trial with a battery-electric refrigerated trailer charged by onboard solar panels on the 1,100 miles Sydney-Brisbane round trip without using diesel to refrigerate the trailer unit. This demonstrates a depot-to-depot cold-chain capability.
But that’s easy, I hear you say, its Australia and its sunny. Well, how about cold and snowy Canada? Transport Canada’s Zero-Emission Trucking Program, recently published a study which monitored over than 200 thousand kms (124,224 miles) of diesel and electric truck data over a year of operations in the Montreal-area. There findings were staggering with nearly $200k of savings per electric truck
Researchers from Newcastle University in the UK, and the Fire Service Academy in Poland, have undertaken a detailed comparison of three key battery technologies: conventional lithium-ion, emerging sodium-ion (SIB), and solid-state batteries (SSB)
They report that high energy lithium types (such as NMC battery variants) are more prone to fire risks (often referred to as thermal runaway) and these can become structural unstable when highly charged, leading to a potential fire risk. They also noted that thermal stability declines as nickel content increases. However, Lithium iron phosphate (LFP), is more robust and can thermal runaway even above 300 °C, making it less prone to fire risks. However, it offers lower voltage and energy density.
274,253 units is the estimate by Power Systems Research of the number of Snowblowers expected to be produced in North America during 2026.
A Snow Blower or snow thrower is a machine for removing snow from an area such as a driveway, sidewalk, roadway, railroad track, ice rink, or runway. It can use either electric power (line power or battery), or a gasoline or diesel engine to throw snow to another location or into a truck to be hauled away.
Snow blowers range from the very small, capable of removing only a few inches (a few more cm) of light snow in an 18 to 20 in (457 to 508 mm) path, to the very large units, mounted on heavy-duty winter service vehicles and capable of moving 20-foot (6.10 m) wide swaths of heavy snow up to 6 feet (1.83 m) deep.
Strait of Hormuz. On Saturday, Feb. 28, the USA and Israel launched a joint attack on Iran which resulted, among other things, in the death of several of Iran’s senior leadership, including the Grand Ayatollah Ali Khamenei. Apart from targeting the leadership, the attacks were also aimed at the Islamic Revolutionary Guard Corps (the Iranian paramilitary organization whose official role is to support the Islamic Republic).
Iran has long threatened, if attacked, to drag the region into total war, including targeting Israel, the Gulf Arab states and the flow of crude oil crucial for global energy markets. So, in retaliation, Iran has launched a series of attacks on gulf states, Cyprus, the US Navy carrier groups in the Gulf and the Mediterranean. The US responded to these attacks by wiping out the Iranian navy and hitting various missile sites in Iran.
Americans are warily eyeing prices at the pump as oil shipments through the Strait of Hormuz grind to a halt amid the threat of Iranian attacks on vessels. The IEA took the unprecedented step of saying it would release 400 million barrels of oil from reserve on Wednesday. But oil is far from the only product for which the world economy is heavily dependent on the shallow, narrow waterway which connects Persian Gulf ports with the rest of the world. From the metals market to agriculture and autos, a de facto closure of the strait would ripple through business sectors and both the U.S. and world economy.
Aluminum is a good example. It is one of the biggest non-petroleum commerce casualties of the U.S.-Iran war. In 2025, the Middle East accounted for roughly 21% of unwrought aluminum imports and 13% of wrought aluminum imports — and those percentages have been rising. Unwrought aluminum is the raw, unprocessed metal in forms like ingots and billets, while wrought aluminum has been mechanically shaped into sheets, rods, or other finished forms used directly in manufacturing.
LAS VEGAS—Power Systems Research (PSR) sent a team of analysts to the CONEXPO-CON/AGG 2026 Show to talk with exhibitors and about the state of the industry and to learn more about new products.
You can read their impressions of the show, their takeaways from talking withexhibitors and attendees about the state of the industry, and the information they gathered about innovative new products.
Interestingly, the PSR team didn’t see big movement to battery power. They saw more hybrids and hydrogen power moving forward. Battery seemed to be relegated to smaller machines.
LAS VEGAS—Many visitors to the CONEXPO-CON/AGG 2026 show here March 3-7 arrived from the cold and snowy Midwest and East Coast. The show exhibit areas covered 2.9 million square feet; with some of the exhibit areas being outdoors attendees felt the warmer than normal temps this time of year where Las Vegas had a record temperature of 86F on March 1. Those warmer temperatures lingered throughout the week.
This year’s show at the Las Vegas Convention Center drew an estimated 2,000 exhibitors and while attendance figures were not available as we prepared this report, observers said traffic was very heavy and attendance was expected to surpass the record 139,100 figure set at the last show in 2023.
We talked with many industry representatives at CONEXPO, and we generally heard that the North American construction equipment market is performing relatively well and that it is expected to experience low single-digit growth in the near term, with demand remaining stable. Demand continues to be supported by infrastructure investment and ongoing construction activity.
OEM representatives said their cautious forecasts were affected by factors such as interest rates, inflation, tariffs and global supply chain disruptions.
Tariffs were repeatedly mentioned as one of the main uncertainties affecting the industry. Frequent policy changes are impacting equipment pricing, sourcing strategies, and global supply chains. Manufacturers are adjusting sourcing strategies and regional production to mitigate tariff exposure.
The industry is moving toward a dual technology pathway. Electrification continues emerging in compact equipment and adoption is increasing slowly as customers become more familiar with EV solutions. Advanced diesel engines remain dominant in medium and large machines, and according to experts, diesel will remain the dominant technology for a long time.
OEMs said they are investing heavily in new engine platforms, efficiency improvements, telematics and connectivity.
We were able to identify a number of trends, based on field interviews and observations conducted during OEM and engine manufacturer booth visits.
Powertrain, Engine Technology Trends
Diesel engines remain the dominant power solution for medium and large construction equipment. Large equipment used in remote areas still requires internal combustion engines due to power needs and operational constraints. According to interviews made by PSR, diesel will continue to be the preferred power solution.
Manufacturers continue to improve fuel efficiency, simplify engine architecture, and enhance durability. Manufacturers showcased different alternative power solutions and are still exploring and testing hydrogen combustion engines, hybrid systems, and introducing multi-fuel platforms (hydrogenated vegetable oil, hydrogen, biodiesel, and natural gas) to the market.
Several companies presented prototype hydrogen engine concepts, although these technologies remain in testing phases or with some few customers. One of the key operational challenges for hydrogen equipment is the lack of fueling infrastructure. As an example, Power Systems Research analysts interviewed executives of JCB, and the company explained that its hydrogen combustion engine technology is already on the field with a limited number of customers, although the market is still at an early stage of deployment.
JCB has developed a mobile hydrogen refueling unit in conjunction with a supplier company that delivers hydrogen directly to job sites, so the fuel logistics is handled as part of a service package supporting early adopters. The main takeaway from the interview is that hydrogen combustion technology is technically viable but still constrained by fueling infrastructure.
Regarding multi-fuel platforms, major manufacturers like Perkins and Cummins showcased engines designed to run on low-carbon fuels, including hydrogen, HVO, and natural gas, aiming to provide flexible, lower-emission solutions without sacrificing performance. Cummins next generation X15, and Perkins 2600 Series were showcased at the venue. FPT showcased it´s multi-fuel XCursor 13. Isuzu also presented it´s multi-fuel engine concepts based on its established engine architecture.
Electrification Trends
Compact equipment segments show the highest experimentation with electrification and alternative power solutions, while large machines such as dozers and large excavators continue to rely primarily on diesel power due to high energy requirements.
Electrification is primarily being applied to compact equipment used in urban environments, as well as in some remote applications supported by portable power stations or battery storage units.
Battery-electric prototypes and electric power units were showcased, with some already available in the market and others currently being tested as potential replacements for diesel engines in smaller and medium-sized equipment.
There is a growing trend toward presenting these technologies, and several new models were introduced during the show by different OEMs and engine manufacturers. Examples include the Perkins battery-electric power unit, the Komatsu electric micro excavator PC01E-2 made in Japan, the JLG scissor lift ES1930M Micro-Sized, the mini track loader TL100EV from Case, and the Dynapac CC1000e electric vibratory roller.
Charging infrastructure and operational limitations continue to restrict wider adoption of electric equipment across the broader construction equipment market.
Additional technologies presented included autonomous and robotic equipment, such as the RogueX3, Bobcats third-generation autonomous compact loader concept. This machine was introduced to explore the future of compact construction equipment through electrification, autonomy, and modular machine architecture.
OEM & Engine Manufacturer Highlights
While walking the CONEXPO, we saw several interesting engine platforms and alternative power technologies at engine manufacturer booths. Interestingly, a number of the innovative products were diesel powered.
Diesel Engines
Manufacturer
Engine Model
Displacement
Power
Notes
Cummins
F3.8 Power Unit
3.8 L
74–173 hp
Modular power unit for off‑highway equipment
Cummins
X15 Next Generation
~15 L
Up to ~700 hp
Heavy‑duty multi-fuel engine platform
Perkins
904J‑E36TA
3.6 L
~134 hp
High power density compact diesel engine
Perkins
2606J‑E13TA
~13 L
~690 hp
Large industrial diesel engine platform and multi-fuel
Power Systems Research has added two members to its team of analysts and account executives. Jack Prince, joins as a Business Development Manager in Ann Arbor, MI, and Jansmin Reichert comes aboard as a Junior European Market Research Analyst in our Brussels office.
Jack Prince
Jasmin Reichert
Jack Prince brings more than 25 years of business development and commercialization experience to the global automotive and mobility industries. He uses research and data to help clients identify market opportunities and improve business efficiency while enhancing product performance.
Jack has advised emerging ventures on market discovery, product strategy, and investor engagement. His experience includes supporting global ventures in electromechanical systems, radar and sensor technologies, structural plastics, SaaS platforms, and vehicle access solutions. Jack holds a Bachelor of Science in Business Administration and is currently completing an Executive MBA at Michigan State University.
Jasmin Reichert is our Junior European Market Research Analyst operating out the Brussels office. She will be responsible for developing European market research and production data analysis for original equipment and engine applications for Power Systems Research’s OE Link™ and EnginLink™ databases.
Jasmin specializes in public affairs and digital policy, and she has experience in EU tech regulation and strategic research. Prior to joining Power Systems Research, Jasmin worked in European parliamentary research, and on technology policy and on technology in the economy. She graduated from Passau University in Bavaria, with a degree in European Studies. She also holds a Master’s degree in European and East Asian Governance. Jasmin joined Power Systems Research Feb. 1, 2026. PSR
CONEXPO – Summary Report 
